Maui Among Top Counties In Hawai’i for Mortgage Approval

According to a study conducted by SmartAsset, a web-based financial technology company, Maui lists among the top counties in the state for mortgage approval.

The study ranked counties nationwide based upon the ratio of mortgage applications to mortgages approved. In the State of Hawaiʻi, Maui county ranks second, behind O’ahu and just ahead of Big Island. Kauaʻi County ranks fourth and Kalawao County, a small section on the northern coast of Molokaʻi encompassing Kaulaupapa, comes in last.

Listed below are the top counties in Hawaiʻi for mortgage approval:

Rank

County

Loan Funding Rate

5 Year Borrowing Costs

Property Tax

Annual Mortgage Payment

Loan Funding Rate Index

1

Honolulu, HI

64.12%

$76,291

$3,691

$14,489

64.12

2

Maui, HI

59.81%

$76,291

$2,358

$14,489

59.81

3

Hawaiʻi, HI

55.97%

$76,291

$3,686

$14,489

55.97

4

Kauaʻi, HI

55.41%

$76,291

$3,330

$14,489

55.41

5

Kalawao, HI

0.00%

$76,291

$2,254

$14,489

0.00

The rankings were a factor in SmartAsset’s study on the best places to get a mortgage, which considered loan funding rate as well as borrowing costs, property taxes, and mortgage payments.

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